Coronavirus (COVID-19) APAC Competitor Impact

NEW YORK, May 4, 2020 /PRNewswire/ --

Summary



Read the full report: https://www.reportlinker.com/p05888137/?utm_source=PRN


With governments across the APAC region placing physical restrictions on consumers, significant changes in channel usage are expected, primarily from branches to telephone and digital banking. Although the majority of customers that bank with the large APAC regionals prefer to use digital channels for common banking tasks, there is a significant difference between the top and bottom.

Some banks have large percentages of customers preferring a single channel for a task, suggesting a lack of other non-digital alternatives. Banks with a higher proportion of digitally active customers are also more likely to keep their customers on digital channels for more complex queries such as asking questions, complaining, and arranging to borrow money.

This report provides information and insight into how the major APAC banks will cope with large changes in channel usage, as various lockdown restrictions remain in place during the COVID-19 pandemic.It identifies the banks least likely to adapt successfully by examining preferred channel usage across a range of tasks, digital satisfaction, and frequent channel visitation.

The report also showcases the opportunities for banking players looking to attract new customers and improve their digital channels.

Scope
- Maybank, CIMB, and HSBC have the least digitally active customers.
- Customer interaction services will be most disrupted by COVID-19.
- COVID-19 will bring to bear the weaknesses of some digital banking propositions.
- Banks used to higher telephone banking usage will be better positioned to deal with the additional number of customer queries.

Reasons to Buy
- Assess each bank's channel strengths and weaknesses and how these are likely to affect customer reaction and retention both during and after this disruptive period.
- Gain insight into current preferred channel usage as well as the propensity of each bank's customers to switch to telephone or digital channels.

Read the full report: https://www.reportlinker.com/p05888137/?utm_source=PRN

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